While some analysts (who might be sitting on large quantities of GM and Ford stock) already dream of a sales rate between 15 and 16 million cars by year’s end in the U.S., CEOs of European carmakers are less gung ho.
Renault does not expect the European new car market to return to 2007 levels “before 2016”, Automobilwoche [sub] reports.
Daimler’s Dieter Zetsche, in a second job also President of the European auto manufacturer association ACEA, also doesn’t see much growth for Europe. That as per another article in Automobilwoche [sub]. High unemployment and austerity programs by governments prompt customers to delay the purchase of new cars. As mentioned before, Europe survived carmageddon with minor bruises, and is better positioned to participate in massive growth elsewhere. According to Zetsche, worldwide car production reached 62 million last year. He expects worldwide car production to grow by 50 percent in the next 1o years.
Renault and Daimler see the BRIC countries (Brazil, Russia, India, China) as the drivers of growth, after car sales in the BRIC countries had quadrupled in the past 10 years. Zetsche also wants to “rely on the BRIC countries for growth.”
None of them mentioned the U.S.
I agree about growth in China and (somewhat less) in India, but why is Russia counted with China?
It is not as much a big market, with much less growth opportunities and more risk of government seizing up everything
People buy more cars in Russia than in India. That sounds like a good reason. Also theft isn’t a problem. Selling cars three generation old isn’t competive